Payments group urges action on CUNA-backed breach bill

May 11, 2016

The Electronic Payments Coalition, of which CUNA is a member, wrote to U.S. House leadership Tuesday to urge advancement of data security and data breach notice legislation.

The Data Security Act of 2015 (H.R. 2205), addressed in the letter and strongly supported by CUNA, passed the House Financial Services Committee in December by a 46-9 vote. H.R. 2205 has also been referred to the House Energy and Commerce Committee, where it has not been considered.

“It is time to protect consumers’ personal data by putting in place a national security standard,” the letter reads. “That is why we ask Congressional leadership to engage both the Energy and Commerce Committee and the Financial Services Committee to enter into a constructive dialogue with each other to advance comprehensive data security and breach notice legislation that works for all interested parties.”

H.R. 2205, sponsored by Reps. Randy Neugebauer (R-Texas) and John Carney (D-Del.), contains the principles that CUNA believes must be present in any data breach legislation.

Those are: creating a single data security standard for all entities handling consumer data; establishing a data breach notification standard that allows card issuers to disclose and identify the details of a data breach; and providing federal regulators the authority to enforce the bill’s provisions.

CUNA engaged credit union leagues, credit unions and members in December with an action alert to support H.R. 2205.

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